ASIC and CNMV have issued a warning regarding using AxisCapitalGroup as your regulator. The platform offers maximum leverage of 1:400 and a welcome bonus on each account. Despite claiming to be registered in the UK, the platform has its residency in Moscow, Russia. The default language is Russian, and we believe they are targeting Russians in the UK. Please find out more in our transparent AXISCAPITALGROUP REVIEW.
According to the homepage, AxisCapitalGroup is the new leader in the world of investments. The company claims to have over 400,000 clients globally with 250,000 active accounts. Other claims include having 230 million orders executed and 4 trillion in transaction volume.
All these claims and yet, two bodies decided to issue a warning regarding the platform. One of the many reasons regulators issued a warning is the high leverage. No sane regulator would allow leverage of 1:400.
Regulators in Europe and the States have put a cap on leverage to a maximum of 1:100. So any platform offering higher leverage is going against set rules. And this means Axis Capital Group is going contrary to set regulations.
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AxisCapitalGroup is by no means a reputable platform. Asic, which is the Australian forex regulator, has been receiving lots of complaints. Most of the complaints center around the platform’s inability to release funds.
To find a safe investment platform, you need to conduct thorough research. One way is to read reviews and find out what others are saying about the platform. Thanks to our years of experience, we know how to spot red flags.
AxisCapitalGroup offers investors four account types to choose from. These accounts include Standard, Gold, Platinum, and VIP. In addition, the accounts come with different features such as deposit amount and consultancy.
Here’s a closer look at each account type and what it brings to the table;
Standard
With the standard account, you have to deposit @250 and get a welcome bonus of 20 percent. There’s no consultancy with the standard account, and members also miss escort of transactions. It means there’s no specialist to help you with day-to-day trading.
Gold
The gold account holder must deposit $2,500 and get a welcome bonus of 45 percent. The leverage set for the gold account is 1:300, and users get separate consultations. However, members of the gold account fail to get analyst help.
Platinum
There’s a minimum allowed deposit of $25,000 with this account. It comes with a maximum leverage of 1:200 with premium indicators. There’s a welcome bonus of 75 percent available for platinum account holders.
VIP
To start using the VIP account, you must deposit $100,000 and above. The account comes with an incredible welcome bonus of 100 percent. It means they match your deposit amount, which is an insane feature. The leverage for this account is set at 1:100.
The platform is furnishing users with large bonuses for a reason. The more you deposit, the higher the rewards. The VIP account comes with three risk-free transactions and premium indicators.
One of the biggest concerns with the accounts is the feasibility of it all. Traditional investment platforms offer consultancy services for free. With Axis Capital Group, it's not the case. Moreover, the technical solutions are only available to those who deposit more than $25,000.
There are several ways of funding your account with the platform. These include bank and wire transfers. The listed methods include Maestro, MasterCard, Visa, and more. It takes less than three minutes for the deposit transaction to complete.
Withdrawing funds with Axiscapitalgroup.uk is another story altogether. No one has been able to withdraw funds for the past few weeks. The platform fails to give reasons for it. Those who do manage to withdraw must have a large balance.
The platform allows users to withdraw small amounts and have a balance on the account. But, unfortunately, it’s not acceptable as investors are free to come and go as they please. And this is another reason why regulators find the platform a huge financial risk.
AxisCapitalGroup is an unregulated platform with a warning from two regulators. The platform is deregistered by ASIC and faces charges from CNMV. And that’s proof enough the platform is no way compliant.
When choosing reliable forex investment platforms, there are features to look for. First, check whether a reliable regulator registers the platform. These regulators include BaFIN, CONSOB, CySEC, FCA, and the SEC.
The platform claims to reside in the UK and fails to have a license from the FCA. It’s one of the reasons why we had doubts about it in the first place. In addition, the platform does not offer any documents to prove compliance.
Newbie investors will see the bonus as a great way to invest with the platform. However, before you make any rash decisions, there are a few issues to note. First, these bonuses end up costing members more than they know.
The issuance of bonuses is another reason regulators are barring investors from using the platform. Regulators have been against platforms that offer bonuses, and with good reason. These platforms hold your account randomly after offering bonuses.
You won’t get to withdraw funds unless you pay back the full amount you owe the platform. The platform will demand a depository amount equal to the bonus. Even if your account has the balance to clear the bonus, they demand a new deposit.
It’s their way of knowing whether the member wants out of the platform. If a member wants to withdraw the full amount, they must pay in full the bonus. Once you make the mistake of clearing the bonus, the platform shuts you out.
The disclaimer at the footer claims Olympus Investment LLC owns the platform. Details further show the platform is registered in St. Vincent and the Grenadines. The platform uses random digits to act as license numbers.
It’s clear that the platform is anonymous, and the people behind it want to remain hidden. You shouldn't invest in a platform without any transparency. Anonymous investment platforms are a no-go zone.
You can only make contact via email. Despite listing phone numbers, most don’t go through. We are sure the platform is enlisting the services of a virtual phone provider. After trying the numbers, they didn’t go through.
Without a direct way of contacting the platform, your funds are at risk. There’s no telling when the platform will shut down. If they shut down, you won’t get to contact them and get your funds back.
There’s no safety of funds with a platform blacklisted by authorities. You should stay away from it and use relevant and recommended platforms. The platform fails to protect the interests of members and instead takes advantage of them.
These are the reasons why we don’t recommend using Axis Capital Group
And now you know the risks that come with investing with AxisCapitalGroup.
To make a better and informed investment decision, check out these recommended investment platforms.
In case you have any questions, feel free to leave a comment or write to us.
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